US Rules ICOs and Token Sales are Sales of Securities

Legal implications are being assigned to blockchain projects in the US as the Securities and Exchange Commission has ruled that investment methods employed by blockchain-based projects – such as Initial Coin Offerings or Token...

SEC – tokens can be ‘securities’

  U.S. Securities and  Exchange Commission - Action SEC claims The DAO tokens are securities That there are violations that have taken place However has refrained from pursuing promoters Motivation is deterrence Motivation...

BTC-e Fined by FinCEN

  BTC-e fined for violation of US AML laws Prosecution against BTC-E Canton Business Corporation for “willfully violating U.S. anti-money laundering (AML) laws” Penalty USD$110,003,314 of which USD$12 million penalty against Alexander Vinnik one of...

Delaware Update

  Delaware bill Senate bill 69 Location of bill Details of bill and location for download: https://legis.delaware.gov/BillDetail?legislationId=25730 Status of bill Signed into law on 21 July 2017. Purpose Delaware approved bill to allow for share records to...

Bill436: New Hampshire has increased the scope of MSB licensing and clarified exemptions

Bill436: New Hampshire has increased the scope of MSB licensing and clarified certain exemptions for users of virtual currency. House bill 666 (HB666) regulated money transmission services using virtual currency. This was approved in July...

Don’t forget to register with FinCEN if you are a foreign digital currency exchange

Sometimes there is a misconception that if you are based outside of the US and operating a digital currency exchange with US customers that there is no requirement to comply with US rules. That is...

“The Times They Are A Changin’” – tax enforcement against cryptoexchanges is the new...

The United States Internal Revenue Service (IRS) has requested details on Coinbase’s users to identify any tax violations. This action seems to have arisen as a result of US Treasury reprimanding the IRS for not...

California to launch the first US Virtual Currency Sandbox

California feels, rather than licensing virtual currency businesses, it should enroll them in a program to help the state learn more about the technology. Last year Bill 1326 was introduced to license virtual currency businesses (the Initial Bill)...

Selling bitcoins is not regulated by State of Florida?

Previously we reported of the entrapment case of Michell Espinoza who was accused of operating an unlicensed MSB and money laundering for having sold bitcoin to undercover agents with fake criminal pretexts. The Circuit Court Judge...

Miami CSI – Bitcoin entrapment 101

US undercover agents regularly adopt overt criminal pretexts for the purchase of bitcoin to see who will fall in the snare. It is quite apparent, that the problem with money laundering regulation is that...